Others represent no such hazard, yet have been espoused so frequently they are increasingly being treated as common knowledge.
That's not to say masses of government debt is a good thing. It isn't.
But we don't have high government debt in Australia - and even if we did the correlation with housing market strength doesn't appear to be very strong anyway.
Could interest rates and bond yields could rise imminently, or even soar significantly?
I don't remember anyone forecasting 10 year bond yields of well under 2.2 per cent back in 2007, after all.
When it comes to debt and its relevance to Australia's housing market, private debt is the big show in town.
And I'll take a look at that in another post.